ACCO Brands Co. (NYSE:ACCO – Get Rating) saw a significant drop in short interest in the month of February. As of February 15th, there was short interest totalling 1,850,000 shares, a drop of 5.1% from the January 31st total of 1,950,000 shares. Based on an average daily volume of 523,100 shares, the days-to-cover ratio is presently 3.5 days. Currently, 2.0% of the company’s stock are short sold.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the company. BWS Financial lowered ACCO Brands from a “buy” rating to a “neutral” rating and dropped their target price for the company from $9.00 to $6.00 in a research report on Tuesday, February 14th. StockNews.com lowered ACCO Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, November 16th.
Hedge Funds Weigh In On ACCO Brands
Institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Hong Kong Ltd increased its holdings in ACCO Brands by 1,042.2% in the 1st quarter. Point72 Hong Kong Ltd now owns 3,358 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 3,064 shares in the last quarter. Wipfli Financial Advisors LLC bought a new stake in shares of ACCO Brands in the 3rd quarter valued at about $28,000. Lazard Asset Management LLC bought a new stake in shares of ACCO Brands in the 1st quarter valued at about $30,000. Tower Research Capital LLC TRC grew its position in shares of ACCO Brands by 116.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,798 shares of the industrial products company’s stock valued at $38,000 after buying an additional 4,197 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of ACCO Brands by 396.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,135 shares of the industrial products company’s stock valued at $40,000 after buying an additional 4,900 shares during the last quarter. Institutional investors and hedge funds own 80.65% of the company’s stock.
ACCO Brands Stock Performance
NYSE:ACCO opened at $5.39 on Tuesday. The stock has a fifty day moving average price of $5.95 and a 200-day moving average price of $5.56. The company has a market cap of $509.41 million, a price-to-earnings ratio of -33.69, a PEG ratio of 0.44 and a beta of 1.85. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.83 and a current ratio of 1.50. ACCO Brands has a fifty-two week low of $4.27 and a fifty-two week high of $8.68.
ACCO Brands (NYSE:ACCO – Get Rating) last posted its quarterly earnings results on Friday, February 24th. The industrial products company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). ACCO Brands had a positive return on equity of 12.07% and a negative net margin of 0.68%. The business had revenue of $499.40 million for the quarter, compared to analyst estimates of $505.62 million. During the same period last year, the firm posted $0.54 EPS. ACCO Brands’s quarterly revenue was down 12.4% on a year-over-year basis. As a group, equities analysts anticipate that ACCO Brands will post 1.08 EPS for the current fiscal year.
ACCO Brands Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 5th. Stockholders of record on Friday, March 10th will be issued a dividend of $0.075 per share. The ex-dividend date is Thursday, March 9th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 5.57%. ACCO Brands’s dividend payout ratio (DPR) is currently -187.49%.
ACCO Brands Company Profile
ACCO Brands Corp. engages in the manufacture and marketing of office, school, calendar products, and select computer and electronic accessories. It operates through the followings segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The ACCO Brands North America segment includes the U.S.